Possible breakout forming in GBPINRAn ascending triangle has been forming in the daily chart of GBPINR. If it breaks out - could possibly reach its previous highs of 104-105 range.
Open chart and switch to Montly Timeframe to see previous highs.
GBPINR trade ideas
Short below 98.4 - long term target 94.0Price action is at final 5th wave of ending diagonal.
Short below 98.4 with target of 94.0 which is to be hit within 3 months.
20th January Forecast & Levels for GBPINRIntraday GBPINR Levels for 20th January, 2021
Dashed lines and boxes represent turning points.
14th January Forecast & Levels for GBPINRIntraday Bank Nifty Levels for 14th January, 2021
Dashed lines and boxes represent turning points.
GBPINR - Strong resistance puts it in downward trendGBPINR rose to some of the highest levels recently. But the area it reached is a region where 2 resistance lines reside near to each other. Because of this, it hasn't been able to break that level and seems like it will now fall down. But, the fall shall stop around the levels of 98.00 because of a strong support region.
I am bearish on this pair for next few sessions.
Long target 100.35 to 100.6Long target 100.35 to 100.6
Warning wave 5 in Wave C is in progress. Expect sharp reversal at 100 to 100.5 range.
SHORT POSUTUIN: GBPINR forming head and shoulder pattern.L.T.P.: 98.50
S.L.: 98.65
Short term target: 97.7
Mid term target: 97
GBP INR making head and shoulder pattern(1hr chart)
GBP/INR is heavy for an obvious correction The pair is showing a price resistance compared to its previous high. If it sustains there will be some profit booking. We could play a short term short or wait for a nice entry at the dip.
Long if >96.4 before 29.10.2020 9:30 (GMT+5:30)Trade: Long
Entry: If price bounces above 96.4 before 29.10.2020 9:30 (GMT +5:30)
Target-1: 97.4
Target-2: 97.8
Target-3: 98.0
Long if >96.7 on/before 11:30 (gmt+5:30)Long if >96.7 on/before 11:30 (gmt+5:30) as it
Confirms upward momentum through formation of Diagonal 5th wave targeting 98.0 by Nov 1st week.
Bullish Crab - GBPINR - 4 Hour TF.Hello,
Pattern : Bullish Crab
Stock : FX_IDC:GBPINR
Time Frame : 4 Hour TF.
Always look for reversal patterns in rectangle box area which is a reversal zone and take trade basis on it.
Note : This chart is only for study and reference purpose.
GBPINR - Heading fast towards a Support levelGBPINR didn't bounceback and instead breached the support level to drop further. It is fast approaching another Critical Support level of 93.
I expect it to continue falling back till that level before we see a change in direction.
GBPINR - Probably time for a pullbackIn my previous update on GBPINR, I informed that it was at a critical level and may decide the next big movement.
It reached the bottom of the support area and we see a strong bullish candle coming up. This could mean it's time for it to move back towards higher levels again.
For those requiring a confirmation, may wait for a green candle again before going long.
GBPINR - In high action regionGBPINR has again come to the region where it starts moving sideways before making a move to either of the directions.
200 EMA is acting as a strong support level at the moment, which also coincides with a key level.
I feel a breakout below this level would mean it dropping to the 93 level. A bounce back from this place would mean that we may go long up till 97.
Bearish Crab - GBPINR - Daily TF.Hello,
Pattern : Bearish Crab
Stock : FX_IDC:GBPINR
Time Frame : Daily
Note : This chart is only for study and reference purpose.
GBPINR - Within range since last many daysGBPINR has been moving within a range since last many days.
Personally, I would plan to open a position when it breaks either of the edge of this channel. Additionally, it looks like there are more chance of it moving towards downside seeing the EMA-20 line.
